Peter Schiff debates Huff. Post Columnist on Labor Unions

[Soul Crusher]

[Soul Crusher]

[Soul Crusher]

[MM2K]

I think both of them are way off base. Workers real wages havent gone up in the past 30 years?? What are these people smoking?? Do they honestly believe that most people arent any richer than they were in 1980?

[whork25]

They have a lot more debt now though right?

[kcballer]

Easier access to cheap credit has allowed us to believe we are better off than what we really are. 

[MM2K]

Easier access to cheap credit has allowed us to believe we are better off than what we really are. 

THe economy RUNS on credit. Nothing wrong with that.  Its just another way of efficiently allocating resources, which is what makes societies better off.

[kcballer]

THe economy RUNS on credit. Nothing wrong with that.  Its just another way of efficiently allocating resources, which is what makes societies better off.

Until you have to pay, which is exactly what we are seeing now.  Money isn't infinite, the realization of that has prompted many to invest heavily in gold as their currency of choice.